In short
Double-entry accounting records every transaction in at least two accounts so debits always equal credits. Qaid applies this automatically: you approve a draft, Qaid posts the journal entry, and the trial balance, profit and loss, balance sheet and cash-flow statement are derived from the same ledger.
What's in the ledger
- A default chart of accounts created for your company (assets, liabilities, equity, income, expenses), which you can extend.
- Journal entries for every approved transaction, invoice, payroll run and statement row.
- Multi-currency support: every entry is posted in your base currency with the original currency and rate recorded.
- Corrections, voids and restores that preserve history rather than deleting it.
- An audit log of who changed what, and when.
Reports generated from the ledger
| Report | What it answers |
|---|---|
| Trial balance | Do all accounts balance, and what is each account's balance? |
| Profit and loss | What did I earn and spend in a period, and what is the net profit? |
| Balance sheet | What do I own and owe at a date, and what is the equity? |
| Cash flow | Where did cash come from and go to? |
| Receivables & payables ageing | Who owes me, who do I owe, and how overdue is it? |
| Revenue, expense and COGS breakdowns | Which categories and vendors drive the numbers? |
| EBITDA | Operating profitability before interest, tax, depreciation and amortisation. |
| VAT summary and VAT detail | Output VAT minus input VAT for a period, with the underlying transactions. |
| Zakat estimate | 2.5% on the higher of net worth or net profit (companies with Zakat enabled). |
| Income-tax provision | Estimated tax on profit at the rate configured for your company. |
| Location comparison | How branches or projects compare. |
Period and fiscal year
Reports run for any date range and respect the fiscal year you set for the company. Monthly summaries and period-over-period comparisons are available in the insights views.
For your accountant
Because the books are standard double-entry, an accountant can review them directly: trial balance first, then the statements, then drill into any account. Reports export as PDF. Clean, reviewed drafts mean less clean-up before filing — read how to prepare clean records for your accountant.
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